Plan to sign loan agreement and SPA together same day, anything need to be alert?
Before signing SPA and Loan agreement, Anything need alert
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 Apr 19 2019, 09:54 PM, updated 7y ago
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#1
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43 posts Joined: Aug 2018 
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Apr 22 2019, 10:20 AM
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#2
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43 posts Joined: Aug 2018
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QUOTE(hanhanhan @ Apr 22 2019, 12:25 AM) nothing, if you're buying residential. Agent said the SPA and legal fee will be borne by developer. Other than this , anything else? just need to know how much to pay to developer / lawyer for the fees.  |
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Apr 25 2019, 03:21 PM
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#3
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QUOTE(hanhanhan @ Apr 22 2019, 02:02 PM) nothing much really. The SPA and loan agreement must with date?for residential property most of the things are pretty standard "Law-wise" |
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Apr 25 2019, 03:24 PM
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#4
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QUOTE(l4nunm4l4y4 @ Apr 25 2019, 03:23 PM) Developer OK or under "sick project developer" listing? How to check? |
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Apr 25 2019, 04:00 PM
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#5
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43 posts Joined: Aug 2018
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Apr 26 2019, 08:37 PM
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#6
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QUOTE(hanhanhan @ Apr 25 2019, 11:29 PM) no. after developer & bank sign then only lawyer will date it. If let say I notice the term not as agreed before, can I refuse to sign /get them amend?so just sign, dont put date on anything. |
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May 2 2019, 04:13 PM
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#7
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QUOTE(hanhanhan @ Apr 27 2019, 03:30 PM) What kind of term? QUOTE(static_365 @ May 2 2019, 12:52 PM) Hi TS, may i know what kind of term? Apologise, it's not the term.. It's the SPA does not indicate it's residential property, but the lawyer convince me this is residential property. |
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May 3 2019, 09:02 PM
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#8
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QUOTE(hanhanhan @ May 3 2019, 08:10 AM) if your SPA front page stated "Schedule H" then it's residential property. oh I see, as I really lack of knowledge regarding this.Thanks for your info There is no requirement under the law to expressly spell out in the SPA that the developer is building a residential property. the actual word you should look out for is "HOUSING DEVELOPMENT" or "HOUSING ACCOMMODATION"  |
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May 7 2019, 11:14 PM
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#9
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QUOTE(zaoldyeck @ May 6 2019, 01:33 PM) Make sure S&P property address is same with Loan agreement property address. I was slap with 7k penalty from developer due to bank late release payment because of address mismatch when processing the document Whopsss!!I was not aware regarding this and already signed.Hopefully everything runs smoothly.Anyway, thanks for your advise. Will take note next time. |
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